With an aim to expand its reach in West Asia and Southeast Asia, Printvenue, an online portal for personalized printing has raised $4.5 Mn funding from Asia Pacific Internet Group.
The funds will be used by the company for the global expansion and to join the APACIG network. APACIG is a joint venture between Rocket Internet and Qatar-based telecom player Ooredoo and operates in 15 countries including Singapore and Australia.
Speaking on this development, Saurabh Kochhar, co-founder and managing director at Printvenue said, “We are growing at more than 20% month over-month at the moment, with over two lakh orders per month. In the long run, it is our vision to become the world’s one-stop shop for all the printing needs. We are targeting niche markets where we would not have any strong competition.”
Saurabh Kochhar is also acting as a CEO for Rocket Internet’s Office portfolio, which includes Printvenue, Zocprint and OfficeYes.
Earlier in last year, Printvenue has expanded its operations in Australia and Singapore. The company is expecting to touch revenues of $2 Bn in the next five years. At present, 85% of Printvenue revenues come from India and the global revenue contribution is expected to grow to 50% by 2021.
Printvenue was founded in 2012 by Saurabh Kochar who was previously associated with McKinsey and Co. The company offers a range of customized gift items such as photo-mugs, photo-notebooks, pen drives and iPhone cases. The online portal can also be used for ordering office stationery, business cards, letterheads, cardholder and other personalized accessories.
Printland, Printo and Delhi-based Printbazaar are some of Printvenue’s competitors which offer printing solutions for gifting and personal use.